Chris Bogut just received a signing bonus of $1,076,000. His plan is to invest this payment in a fund that will earn 8%, compounded annually. Click here to view factor tables. (a) Your answer is incorrect. If Bogut plans to establish the AB Foundation once the fund grows to $2,150,924, how many years until he can establish the foundation? (Round factor values to 5 decimal places, e.g. 1.25124 and final answer to O decimal places, e.g. 25.)
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- Chris Bogut just received a signing bonus of $980,400. His plan is to invest this payment in a fund that will earn 8%, compounded annually. Click here to view factor tables (a) Your answer is correct. If Bogut plans to establish the AB Foundation once the fund grows to $2,879,621, how many years until he can establish the foundation? (b) eTextbook and Media 14 years * Your answer is incorrect. Payments $ Attempts: 1 of 15 used Instead of investing the entire $980,400, Bogut invests $322,600 today and plans to make 14 equal annual investments into the fund beginning one year from today. What amount should the payments be if Bogut plans to establish the $2,879,621 foundation at the end of 14 years? (Round factor values to 5 decimal places, e.g. 1.25124 and final answer to 0 decimal places, e.g. 458,581.)Andrew Bogut just received a signing bonus of $1,000,000. His plan is to invest this payment in a fund that will earn 8%, compounded annually. Instructions a. If Bogut plans to establish the AB Foundation once the fund grows to $1,999,000, how many years until he can establish the foundation? b. Instead of investing the entire $1,000,000, Bogut invests $300,000 today and plans to make 9 equal annual investments into the fund beginning one year from today. What amount should the payments be if Bogut plans to establish the $1,999,000 foundation at the end of 9 years?Sam Hart decides to invest $70,000 in a fund that will earn 6% annual interest, compounded semiannually. How much will his investment be worth in three years? Draw a timeline to illustrate the problem. What is the future value of your investment? (Use the present value and future value tables, a financial calculator, a spreadsheet or the formula method for your calculations. If using present and future value tables or the formula method, use factor amounts rounded to five decimal places, X.XXXXX. Round your final answer to the nearest cent, $X.XX.)
- Henry Bogut just received a signing bonus of $1,086,900. His plan is to invest this payment in a fund that will earn 9%, compounded annually. (a) If Bogut plans to establish the AB Foundation once the fund grows to $1,986,897, how many years until he can establish the foundation? 7 years (b) Instead of investing the entire $1,086,900, Bogut invests $313,900 today and plans to make 7 equal annual investments into the fund beginning one year from today. What amount should the payments be if Bogut plans to establish the $1,986,897 foundation at the end of 7 years? (Round factor values to 5 decimal places, e.g. 1.25124 and final answer to 0 decimal places, e.g. 458,581.)Andrew Bogut just received a signing bonus of 1,000,000. His plan is to invest this payment in a fund that will earn 8%, compounded annually. a) If Bogut plans to establish the AB Foundation once the fund grows to 1,999,000, how many years until he can establish the foundation? b) Instead of investing the entire 1,000,000, Bogut invests 300,000 today and plans to make 9 equal investments into the fund beginning one year from today. What amount should the payments be if Bogut plans to establish the 1,999,000 foundation at the end of 9 years.Alan Kaminski just received a signing bonus of $ 1,600,000. His plan is to invest this payment in a fund that will earn 10%, compounded annually. (For calculation purposes, use 5 decimal places as displayed in the factor table provided.)Click here to view the factor table. https://education.wiley.com/content/Kieso_Intermediate_Accounting_17e/media/simulations/interest_rate_tables.pdf
- Jack Walter recognizes the value of saving part of his income. He has set a goal to have $35,000 in cash available for emergencies. How much should he invest semiannually to have $35,000 in ten years if the sinking fund he has selected pays 6% annually, compounded semiannually? E Click the icon to view the table. He should invest $ semiannually. (Round to the nearest cent as needed.)Serena Monroe wants to create a fund today that will enable her to withdraw $31,300 per year for 8 years, with the first withdrawal to take place 5 years from today. Click here to view factor tables. If the fund earns 11% interest, how much must Serena invest today? (Round factor values to 5 decimal places, eg. 1.25124 and final answer to 0 decimal places, e.g. 458,581.) Investment amount $Julia Monroe wants to create a fund today that will enable her to withdraw $27,700 per year for 8 years, with the first withdrawal to take place 5 years from today. Click here to view factor tables. If the fund earns 10% interest, how much must Julia invest today? (Round factor values to 5 decimal places, e.g. 1.25124 and final answer to O decimal places, e.g. 458,581.) Investment amount $
- Your client has been given a trust fund valued at $1.19 million. He cannot access the money until he turns 65 years old, which is in 30 years. At that time, he can withdraw $20,500 per month. If the trust fund is invested at a 4.0 percent rate, how many months will it last your client once he starts to withdraw the money? Note: Assume annual compounding. Do not round Intermediate calculations and round your final answer to 2 decimal places. Number of monthsJack Walter recognizes the value of saving part of his income. He has set a goal to have $15,000 in cash available for emergencies. Assume he invests semiannually to have $15,000 in five years and the sinking fund he has selected pays 8% annually, compounded semiannually. Find the total interest earned on the sinking fund using the given table. E Click the icon to view the table. The total interest earned will be S . (Round to the nearest cent as needed.)David Quincy wants to withdraw $30,800 each year for 10 years from a fund that earns 10% interest. Click here to view factor tables. How much must he invest today if the first withdrawal is at year-end? How much must he invest today if the first withdrawal takes place immediately? (Round factor values to 5 decimal places, e.g. 1.25124 and final answers to 0 decimal places, e.g. 458,581.) First withdrawal at year-end First withdrawal immediately